April 15, 2016

Corn

CBOT Prices Two Rivers Cash Bid Prices
May ‘16 378’4 +4’4 Apr ‘16 343’0 +3’0
Jul ‘16 382’0 +4’0 May ‘16 346’0 +3’0
Sep ‘16 382’2 +2’6 June ‘16 344’0 +3’0
Dec ‘16 388’2 +2’6 NC ‘16 338’0 +3’0

 

Soybeans

CBOT Prices Two Rivers Cash Bid Prices
May ‘16 956’0 +8’0 Apr ‘16 886’0 +3’0
Jul ‘16 964’2 +8’0 May ‘16 886’0 +3’0
Aug ‘16 965’6 +7’6      
Nov ‘16 966’4 +7’2 NC ‘16 889’0 +3’0

 

The higher trend continues with corn making new highs for the move, now @ 4-mo highs.

Meanwhile, beans are approached yesterday’s multi-month highs; wheat marginally higher.

Higher corn attributed to news Brazil and Arg seem to be temporarily out of the export market.

Brazil’s political issues now supporting the Real; Arg weather remains wet, slowing harvest.

Export news includes 344 kmt of US corn to unknown & 132 kmt of new crop beans to China.

Mostly ideal US weather with above temps/below precip in 6-10 day outlook; warm and wetter in 8-14.

Plantings expanding rapidly, some est MO could be 80% planted; nation near 20-25% on Monday.

OPEC/non-OPEC countries meeting this weekend to discuss potential production freezes.

In other news, Apple recovered 2,204 pounds of gold last year from recycled electronics, mostly phones.

Also recycled 6,600 #’s of silver, 3 mln lbs copper, 4.5 mln lbs aluminum & 23 mln lbs steel.

Commitment of Traders report shows traders buying 29,220 contracts of corn and 23,740 of beans

This put them slightly less short than expected for corn and less long than expected on beans

 

April 15, 2016